Three Real Estate Stories in the News for Friday, December 1st, 2017

Hello everyone,

Here are today's Canadian real estate news headlines.

Toronto Real Estate Now Has The Fastest Growing Gap Between Sales And New Listings

A recent report by the Canadian Real Estate Association (CREA) shows the declining home sales and more new listings in October. Despite this, only 6 out of 27 major markets are in “buyer’s market” territory, according to Better Dwelling.

Check here for more details. 

Haider-Moranis Bulletin: Canadians' addiction to debt adds risk to real estate market

"A recent report by the Bank of Canada identifies the high-risk borrowers who are more vulnerable to economic shocks, such as a sudden loss in income or a rapid increase in mortgage rates. The highly indebted young borrowers have low-ratio mortgages, which are usually uninsured and have loan-to-value ratios below the 80 percent threshold. But that’s of little comfort: Their mortgage credit is large relative to their incomes, with loan-to-income ratios more than 450 percent", according to Financial Post. 

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New mortgage rules could disqualify 10% of buyers says Bank of Canada

The new mortgage stress tests could disqualify about 10% of prospective home buyers with larger down payments, according to the Bank of Canada.

Check here for more details. 

Picture: Verne Ho

Davisville Village Home Sales Statistics for October 2017

Leaside & Bennington Heights Sales Statistics for October 2017

Find out what your home is worth here!

Jethro Seymour, Toronto Real Estate Broker.  Search Toronto's live MLS listing here.